Whales Accumulate, LINK's Defense of $21–$22.50 Could Ignite Bull Run

Chainlink's (LINK) price is currently navigating a pivotal juncture, as key support levels are being tested amid increased whale activity and strategic corporate developments. The token has retreated to the $21–$22.50 range, a critical area aligned with the 0.618 Fibonacci retracement and key moving averages. Analysts and traders are closely monitoring whether LINK can hold this support to fuel a potential bullish rebound toward higher resistance levels. A successful defense of this zone could signal renewed buying momentum and set the stage for a retest of the $26–$30 range.

Recent on-chain data reveals a significant accumulation of LINK by large investors, with whale wallets holding over 100,000 tokens experiencing a steady increase in activity. Over 1.25 million LINK tokens were absorbed by whales in a 48-hour period, reducing market supply and potentially reinforcing upward pressure on the price. This accumulation trend aligns with Chainlink’s broader adoption story, particularly as the network continues to expand its utility through partnerships such as the recent collaboration with PublicAI. The integration of Chainlink’s oracle technology with AI-driven prediction systems introduces new use cases, including AI-powered reputation scores and risk analytics, which could drive further adoption and liquidity.

The technical landscape is similarly encouraging. The DMI (Directional Movement Index) remains bullish, with the +DI line positioned above the -DI line and the ADX at a firm 29, indicating strong directional momentum. Additionally, the Relative Strength Index (RSI) is hovering near neutral territory, suggesting the market is poised for either a breakout or a consolidation phase. A move above the RSI level of 60 could trigger a bullish reversal, while a drop below 40 would signal bearish continuation. Chainlink’s price is also maintaining a rising channel structure, with a series of higher lows reinforcing a long-term bullish bias.

Chainlink’s expanding ecosystem and strategic partnerships continue to play a key role in its fundamental narrative. The recent partnership with SBI Group to tokenize real-world assets in Japan underscores the growing institutional interest in Chainlink’s technology. This collaboration aims to streamline the adoption of tokenized assets across the Asia-Pacific region and highlights Chainlink’s role in bridging traditional finance with blockchain innovation. Furthermore, the Cross-Chain Interoperability Protocol (CCIP) has seen rapid adoption, with over 60 blockchain networks integrated and major institutions such as SWIFT and ANZ leveraging its capabilities. These developments reinforce Chainlink’s position as a critical infrastructure layer for blockchain-based applications across multiple industries.

From an economic standpoint, Chainlink’s token design supports scarcity and utility. With a capped supply of 1 billion tokens and a robust staking mechanism, LINK is incentivized for long-term holding. The recent expansion of the staking pool to 45 million tokens has further reduced market liquidity, potentially contributing to price resilience. Additionally, the 28-day cooldown period and penalty mechanisms for node operators ensure the network’s security and discourage speculative selling. As institutional demand for oracle services grows, particularly in sectors such as DeFi, insurance, and supply chain management, the demand for LINK is expected to follow suit.

Market observers remain cautiously optimistic, with many noting that the next few weeks will be crucial in determining Chainlink’s trajectory. A successful retest of the $21–$22.50 support zone, combined with strong whale accumulation and continued institutional adoption, could signal the start of a more sustained upward trend. However, if LINK fails to hold these levels, the next areas of interest would be $18 and $15.10, the latter being the token’s realized price, which is often viewed as a baseline for accumulation. The broader macroeconomic environment, including interest rate expectations and institutional crypto adoption, will also play a key role in shaping Chainlink’s performance in the coming months.

Source:

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[2] Chainlink Price, LINK Price, Live Charts, and Marketcap (https://www.coinbase.com/en-in/price/chainlink)

[3] Chainlink - As whales pile on holdings, will LINK's price hit ... (https://eng.ambcrypto.com/chainlink-as-whales-pile-on-holdings-will-links-price-hit-50)

[4] Chainlink price analysis: LINK faces key test at $21 ... (https://crypto.news/chainlink-price-analysis-link-faces-key-test-at-21-fibonacci-confluence/)

[5] Whales Buy 1.25M LINK, AI Deal Expand, Chainlink Price ... (https://coingape.com/markets/whales-buy-1-25m-link-as-ai-deal-expands-is-chainlink-price-ready-for-40/)

[6] Chainlink Whales Keep Buying as LINK Price Holds $23 (https://blockonomi.com/chainlink-whales-keep-buying-as-link-price-holds-23-whats-next/)